BETTING WORLD NEWS 888 to seek larger marker share in fewer markets 2 months ago Samuel Post Views: 105 The FTSE 250-listed gambling company 888 Holdings has announced an updated strategy at its Capital Markets Day in London. The company has outlined plans to concentrate on a “smaller number of key markets” in 2025 to cut its leverage. It forecasts revenue of more than £2bn in 2025, adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) margin of more than 23 per cent and adjusted net debt/EBITDA of less than 3.5x. That’s based on a focus on a “refined” number of key markets in which it aims to gain greater market share. The company will also seek to accelerate cost synergies from its acquisition of William Hill’s European operations. It foresees pre-tax cost synergies of approximately £150m, with about £87m in operating cost synergies expected to be achieved in 2023. 888 CEO Itai Pazner said: “As a newly combined business we have significant scope for improving our operating model and delivering efficiencies. Over the next two years, we plan to fully integrate our business – creating a bigger, stronger and better organisation with higher profit margins. We are focused on building a customer-led business with a portfolio of world-class brands that provide complementary offerings, supporting our ambitions to drive market share growth in some of the most attractive betting and gaming markets in the world. This will be enabled by a scalable, unified proprietary technology stack that will underpin our product and content leadership focus.” Pazner also added: “Our long-term potential remains exciting. Building our unified tech platform will present us with real future growth opportunities as we take advantage of our world-class brands, product and content leadership, and customer excellence to set our business for the next decade of growth.” 888 reported a drop in Q3 revenue, down by 7 per cent year-on-year to £449m. The drop in revenue is mainly due to its exit from the Netherlands upon the launch of the regulated igaming market in October and due to player safety measures in Britain. In September, 888 announced the launch of its African joint venture, 888AFRICA, which is starting with licences in four East African countries: Kenya, Tanzania, Mozambique and Zambia. It plans to expand further in the region. Source: focusgn.com About Post Author Samuel I am a journalist specializing in gambling in Africa and around the world. I am particularly interested in stories about games and casinos. See author's posts SamuelI am a journalist specializing in gambling in Africa and around the world. I am particularly interested in stories about games and casinos. Facebook Twitter LinkedIn Email Print Tags: 888 Holdings, spors betting, Tanzania Continue Reading Previous FIFA World Cup 2022 Betting Sites in NigeriaNext Who should betting firms have taken to Qatar? More Stories BETTING SOUTH AFRICA SIS, Kiron Interactive in Africa partnership 2 days ago Szarlot BETTING UGANDA Melbet online betting is a stable source of income 2 days ago Szarlot BETTING WORLD NEWS Bookmaker 1xBet denies problems with license and connection with Russia 2 days ago Samuel ONLINE WORLD NEWS TVBET enhances its iGaming footprint through St8 partnership 3 days ago Iwo Bulski CASINO WORLD NEWS Black Edition is back for Novomatic 4 days ago Iwo Bulski ONLINE WORLD NEWS Playtech to deliver €400m EBITDA for 2022 5 days ago Iwo Bulski ONLINE WORLD NEWS Technamin appoints Hmayak Manukyan 5 days ago Samuel BETTING TANZANIA Betting firm employs 142 Tanzanian youths 6 days ago Szarlot BETTING SOUTH AFRICA Betfred SA denies it owes Joburg City Power over R3m in unpaid lights bill 6 days ago Szarlot BETTING TANZANIA Parimatch Tech becomes GR8 Tech 6 days ago Samuel EXPERTS WORLD NEWS What Will Be The Future of Sports Betting Around The World? 6 days ago Szarlot BETTING GHANA Why Ghana Must Widen the Distance Between Sports Betting and Education Centres 1 week ago Szarlot Leave a Reply Cancel replyYour email address will not be published. Required fields are marked *Comment * Name * Email * Website Save my name, email, and website in this browser for the next time I comment. Δ This site uses Akismet to reduce spam. Learn how your comment data is processed.